Skyland, Washington, D.C. (Ward 8), September 4, 2025
News Summary
The District of Columbia Housing Finance Agency has provided major financing to enable construction of Wagner Senior Residences, a five‑story, 67‑unit affordable senior housing building at 2419 25th Street SE in Skyland. The financing package includes $22.6 million in tax‑exempt bonds, Federal and D.C. LIHTC equity, and an $18.9 million Housing Production Trust Fund loan. An FHA 221(d)(4) construction‑to‑permanent structure lowers capital costs. Developed by Justice Housing and The Miller Group with EquityPlus, the project targets households at 30%–80% AMI and includes 13 PSH units and on‑site amenities like a fitness center and terraces.
District agency backs new 67‑unit senior affordable housing in Skyland with $41.5M in public financing
The project known as Wagner Senior Residences, planned at 2419 25th Street SE in the Skyland neighborhood of Southeast Washington, D.C., has cleared a major financing hurdle. The District of Columbia Housing Finance Agency provided a package that includes $22.6 million in tax‑exempt bonds and tax credit equity, while the D.C. Department of Housing and Community Development supplied an additional $18.9 million loan from its Housing Production Trust Fund toward the development.
Key financing and scope
The financing package announced Aug. 26, 2025 and reported on Sept. 2, 2025 brings together several public sources to support new construction of a five‑story affordable rental building. The Housing Finance Agency underwrote $17.2 million in Federal Low‑Income Housing Tax Credit equity and $3.6 million in D.C. Low‑Income Housing Tax Credit equity as part of the bond issuance. The development’s total reported cost is $47.6 million.
Project details and housing targets
Wagner Senior Residences will contain 67 apartments in all: 6 studio, 58 one‑bedroom, and 3 two‑bedroom units. The apartments are reserved for households with incomes ranging from 30% to 80% of Area Median Income (AMI). Thirteen units will be set aside for residents who qualify for Permanent Supportive Housing services.
Amenities, partners and lending structure
The five‑story building will include common spaces such as a fitness center, indoor and outdoor resident lounges, and an outdoor terrace. Developers on the project are Justice Housing and The Miller Group, with EquityPlus serving as a financial partner and development consultant. The sponsor team worked with the Housing Finance Agency to underwrite an FHA‑insured construction‑to‑permanent 221(d)(4) loan to lower long‑term capital costs.
Why public financing was needed
The site was rezoned in 2020 but sat unused for many years. Rising interest rates in 2022 made the project harder to finance, and project backers and agency staff have indicated the development might not be feasible under current market rates without the layered public financing and the FHA loan structure used here. Agency funding tools helped bridge the gap between rising capital costs and the affordability goals for the building.
Agency role and recent activity
The Housing Finance Agency issues tax‑exempt mortgage revenue bonds and underwrites tax credit equity to cut borrowing costs for projects that create or preserve rental housing across the District. The agency offers predevelopment, construction and permanent financing to for‑profit and non‑profit developers and is rated S&P AA‑. In 2025 the agency has also supported several larger multifamily financing packages elsewhere in the city, making the Wagner package one of the smaller bond and tax credit deals it has issued in recent months.
Location and market context
The community sits in Ward 8, a part of the city that has seen noticeable change over the last decade. Market reports show the District’s multifamily sector has generally benefited from steady rent and job growth and a pipeline of new residential conversions, factors that project partners say improve the neighborhood context for incoming residents.
What comes next
With its financing in place, the project team can move forward with construction and permanent underwriting under the FHA 221(d)(4) structure. No official construction start date was announced in the financing release. Agency leaders described the financing as aligned with the city’s housing priorities to expand affordable rental supply and support aging in place for seniors.
FAQ
What is being built?
Wagner Senior Residences, a five‑story affordable senior housing building with 67 apartments at 2419 25th Street SE in Skyland.
How is the project being financed?
Financing includes $22.6 million in tax‑exempt bonds and tax credit equity underwritten by the District housing finance agency and an $18.9 million loan from the D.C. Housing Production Trust Fund. The sponsor also secured an FHA 221(d)(4) construction‑to‑permanent loan.
Who will live there?
Units will be reserved for households earning between 30% and 80% of AMI. Thirteen units will offer Permanent Supportive Housing services for eligible residents.
What amenities will the building have?
Residents will have access to a fitness center, indoor and outdoor lounges, and an outdoor terrace.
When will construction start?
No construction start date was provided in the financing announcement; the financing package now clears a major hurdle for moving forward.
Key project features
| Feature | Detail |
|---|---|
| Project name | Wagner Senior Residences |
| Address | 2419 25th Street SE, Skyland (Ward 8) |
| Building size | Five stories |
| Total units | 67 (6 studios, 58 one‑bedroom, 3 two‑bedroom) |
| Income targeting | 30%–80% of AMI |
| Permanent Supportive Housing | 13 units |
| Public financing | $22.6M tax‑exempt bonds/tax credit equity; $18.9M HPTF loan |
| Total development cost | $47.6M |
| Developers / partners | Justice Housing; The Miller Group; EquityPlus (financial partner) |
| Special loan | FHA‑insured 221(d)(4) construction‑to‑permanent loan |
Deeper Dive: News & Info About This Topic
Additional Resources
- Multihousing News: DCHFA finances fresh affordable senior housing in D.C.
- Wikipedia: Wagner Senior Residences
- ConnectCRE: DCHFA funds new seniors housing project in D.C.
- Google Search: Wagner Senior Residences
- Commercial Observer: D.C. affordable housing DCHFA loan
- Google Scholar: Wagner Senior Residences
- GlobeNewswire: DCHFA closes out August by funding 67 new senior affordable apartments in Ward 8
- Encyclopedia Britannica: Wagner Senior Residences
- Bain Capital Real Estate: Bain Capital Real Estate and Capitol Seniors Housing acquire active‑adult product
- Google News: Wagner Senior Residences
